Bankers face the prospect of jail as Serious Fraud Office launches criminal probe into interest-rate fixing at Barclays

Hearing: Former chief executive Bob Diamond left Barclays over the matter, before appearing before MPs this weekA criminal investigation has been launched into alleged rigging of the Libor rate within the banking industry, the Serious Fraud Office (SFO) confirmed today.SFO director David Green QC formally accepted the Libor issue for investigation after Barclays was fined by the Financial Services Authority (FSA) last week for manipulating the key interbank lending rate which affects mortgages and loans.The claims ultimately led to the resignation of Barclays boss Bob Diamond and have become the focal point of a fierce political debate over ethics...

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